Just a suggestion.

[Mike B.]

The Soapbox Have a great idea? A pet peeve? Share your views and suggestions to help build a better DodgeBoard.

Ok, since you asked for it...

I think we ought to have a forum for financial issues. Topics could include: How to get and stay out of debt. Using credit cards wisely. Investing in: stocks, mutual funds, bonds, IRA's, Precious Metals, Is it wise to consolidate debt? Where to turn to when you get into too much debt/or any finacial trouble. How to diversify a portfolio. Any topic dealing in using our resources (money) wisely. Or maybe what not to do! Maybe simple things like: How to build a budget.

I know I've seen alot of local bankers and successful businesmen/women on this board and they could even help give advice. Kent Smoll, our banker friend, Jeff Thorp, Mike Webber and gaddy . There are many others.

I know alot of younger people visit this board and I know from experience that people must be taught how to handle money and resources. Responsibility: it's not something that's taught in every home. It doesn't come naturally to everyone, sometimes it's learned.

I don't know how well it would go over, but it would be of interst to me.

I'm not sure who wrote this but...I've done this in the past...it's a great idea!

The 11 BEST Money Ideas of All Time...

Money Tip #1:


The great scientist Albert Einstein once said, "It takes a genius to see the obvious." What he meant by that is that sometimes the simplest things in life are the most powerful ... but because they are so simple, we tend to ignore them, and not let them work for us.

One of the simplest but most powerful money making ideas is this: Keep a daily log of everything you spend. Go to the dime store and buy a little notebook. Carry it with you wherever you go. Write down every penny - every single penny - you spend every day. It's as simple as that.

If you do this, you will find something magic happening in your financial life in just a few weeks.

There is something incredibly powerful about writing down all your expenditures. It makes the flow of money through your life more real and exact. It shows you simply and clearly just where you are spending your money, on what and why. Once you know that, it becomes much easier to control your spending.

Many people who have taken up this practice have not only learned something about themselves, which they never knew before, but they are often astounded.

For example, one woman realized through examining her notebook that she actually spent nearly $2,000 per year on diet soft drinks, snacks and candy bars! Since her job as a office clerk brought her a scant $12,000 per year, she realized that one-sixth of her entire income was being frittered away on something entirely frivolous. The woman gave up the snacks and drinks, and found she had enough money to afford health insurance – plus has $400 left over. If you could choose snacks or health insurance, which would you choose?

The point is, it was her daily expense log that helped her achieve the insight and clarity she needed to get control of her finances. That's what a simple spending record will do for you - it will give you control over your spending, and thus your financial life.

There may be nothing but a 75-cent notebook and a ballpoint pen between your life of financial struggle and financial freedom.

[Bubba]

Nice idea. I have recently started a Roth IRA that I manage myself, I have a mix of individual stocks, some mutual funds and some exchange traded funds (ETF's). I invest some money every month to take advantage of dollar cost averaging.

[Mike B.]

Nice idea. I have recently started a Roth IRA that I manage myself, I have a mix of individual stocks, some mutual funds and some exchange traded funds (ETF's). I invest some money every month to take advantage of dollar cost averaging.

Bubba,

Explain that to me.

Is dollar cost averaging putting aside money every month, towards an investment. Same amount of money every month= less shares when share price is up and more shares when price is down. Correct?

[Bubba]

Yes, that is correct. If you have $1000 to invest you wouldn't want to buy all $1000 of a stock at the same time. The order might be on an up time for the stock. If you spread it out over a period of a few weeks or months, you will usually come out ahead in the long run. Where I have my Roth IRA, the money I put in each month in an Automatic Investment Plan allows me to trade without paying any commission for the trades. The basic plan which doesn't cost anything allows for 4 free trades each month. The next plan, which is what I have, costs $12 per month which allows you to use the stock research portion of the website and allows for 6 free trades per month.

[Mike B.]

Nice idea. I have recently started a Roth IRA that I manage myself, I have a mix of individual stocks, some mutual funds and some exchange traded funds (ETF's). I invest some money every month to take advantage of dollar cost averaging.

Are these in PMs (precious metals)?

[Bubba]

The ones I have are in real estate. The ones I own are Avalon Bay Communities (AVB) and Entertainment Properties (EPR). Both pay dividends (another great way to make something extra). I do own some precious metal stocks but they aren't exchange traded funds, I own one gold company stock and starting this next month I am going to start purchasing some of a copper company. I don't purchase every stock every month, I am spreading it out and rotating some stocks and pick up something new sometimes.

The EPR stock has been my best performer of all my stocks. I have owned it for a couple of months, it has paid a $7+ dividend and is up over $80 from what I paid for it. Not too bad for having just under 13 shares.

[Bubba]

I told you wrong, they aren't ETF's. They are REIT's. (Real Estate Investment Trust)

[TexKan]

Confucius say - Copper maybe good idea.

[miskitka]

if you ever has a chance to take a F.P.U class (financial peace university) you should do it,its a 9 week class, some of the local churches do this, i took mine through the nazarene church. this is with Dave Ramsey, im sure you've heard of him. he teaches you how to make a budget, what to do with debt (how to get rid of it) talks about a emergency fund, insurance, buying a house, college funds. IRA,mutual funds,stocks etc... about every thing that has to do with finances.even how to purchase things like furniture, cars.. things that you can bargin with. he teaches you to live like no one else, so later you can live like no one else.
i've been able to pay off all my credit cards,(and cut them up) and only have a car payment, and a little bit left on a L.O.C....then i will be debt free (except my house)and that will be next on the list.
if your interested, you can go to Real Debt Help - Get out of debt with Dave Ramsey's Total Money Makeover Plan.

[Bubba]

Confucius say - Copper maybe good idea.

I started buying a copper company stock today. Got my first 8 shares of SLT. Another pretty good copper company is PCU.